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Business, 30.11.2021 23:20 jkenkw4667

Reporting land acquisition for cash and mortgage note on statement of cash flows On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. Balance
Date Item Debit Credit Debit Credit
Jan. 1 Balance 156,000
Feb. 10 Purchased
for cash 246,000 402,000
Nov. 20 Purchased with long
-term mortgage note 324,000 726,000
Item Section of Statement of Cash Flows Added or Deducted Amount
Purchase of land for cash
Purchase of land by issuing
long-term mortgage note

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Reporting land acquisition for cash and mortgage note on statement of cash flows On the basis of the...
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